(Press Release) Mexico City, Mexico-Nexxus Capital is please to announce the final closing of its sixth institutional private equity fund, Nexxus Capital (“Nexxus VI”), iwth capital commitments of US$550m. The fund was oversubscribed, significantly exceeing its original target of US$400m.
In addition to strong support from existing and new local institutional investors, Nexxus Capital VI has attracted commitments from new world‐class investors from North America, Europe and the Middle East. Pension plans, sovereign wealth funds, and endowments account for the majority of the investor base.
Nexxus VI is comprised of two vehicles: (i) a Mexican public vehicle listed on the Mexican Stock Exchange (Ticker: NEXX6CK 13) and (ii) an Ontario limited partnership. Both vehicles will co‐invest on a pro‐rata basis according to total available resources of each vehicle. MVision Private Equity Advisers acted as lead global fundraising adviser. Santander and Citigroup acted as joint‐bookrunners for the Mexican vehicle.
Nexxus Capital VI expects to make equity and equity‐related investments in midsize companies primarily in Mexico, where there is an opportunity to institutionalize family or entrepreneurially owned businesses. Nexxus Capital’s approach focuses on the implementation of operational efficiencies and maximizing liquidity value after taking portfolio companies public or selling to strategic or industry buyers, which is a continuation of the successful investment strategy applied to its prior funds.
White & Case LLP served as US legal counsel to the Fund, General Partner and Manager, and Stikemann Elliott served as Canadian legal counsel to the General Partner.
BACKGROUND ON NEXXUS CAPITAL
Nexxus Capital is the oldest independent Mexican private equity firm with more than 18 years in the market. The team has a successful track record achieving unleveraged gross IRRs of over 25%, with over US$1.2 billion in assets under management plus US$100m in co‐investments across six institutional funds. It is the only Mexican private equity fund manager to have established six funds and listed four portfolio companies on the Mexican Stock Exchange (one in NYSE).